Goldman Sachs Asset Managment, through funds managed by its private equity business, has made a $125 million strategic investment in Fortress Information Security, a supply chain cybersecurity provider.
Fortress Information Security secures critical industries from cybersecurity threats stemming from vendors, assets, and software in their supply chains. The firm enhances cybersecurity postures and compliance with relevant regulations and secures 40 percent of the U.S. power grid. Goldman Sachs Asset Management has over $75 billion in assets under management and offers clients a dedicated partnership with a focus on long-term performance.
“Supply chain cybersecurity is one of the most important challenges facing business and government leaders today. Supply chains represent a source of significant threats to the national economy and our ability to maintain our way of life,” said Peter Kassabov, co-founder of Fortress. “We started Fortress because we recognized major supply chain vulnerabilities in our country’s most critical industries. Many recent high-profile breaches have spawned a new wave of regulatory action in the U.S. that will likely expand for the foreseeable future.”
Foley & Lardner LLP acted as legal advisor, and DBO Partners acted as financial advisor to Fortress. Goodwin Procter LLP acted as legal advisor, and Goldman Sachs & Co. LLC served as financial advisor to Goldman Sachs Asset Management.